Aurizon Holdings Limited
(ASX:AZJ) say recent severe weather will impact expectations for the June quarter.
Severe weather in the Hunter Valley during April saw operations suspended for 9 days. Damage to track infrastructure north of Newcastle closed certain north-south rail lines and delayed indefinitely resulting in the standing down of Aurizon employees for up to a month.
Coal volumes for the March quarter were up 2 per cent on the previous year. Queensland volumes were steady despite the impact of Tropical Cyclone Marcia. Growth would have been 5 per cent excluding that.
New South Wales volumes in the third quarter were up 12 per cent on the commencement of a contract with Whitehaven coal.
However, full year growth in freight volume is now expected to be marginal.
The first six months of the 2015 financial year saw net profit jump 188 per cent to $308 million.
